the_collector
TF Premier
Hello Everyone!
It's been half a year since I've been using my axis atlas and I'm not sure why nobody is speaking about this!
Axis atlas has a dynamic currency conversion fee of just 1.5% + GST. Effective rate 1.77%.
This is on par with many high end credit cards that offer a lower forex fee of 3.5% + gst.
Now where is the benefit you may ask?
At the time of making a transaction in a foreign country, Instead of paying in the local currency of the country, select INR ( this would be considered as a DCC transaction instead of a forex one) and this would attract a fee of only 1.77%.
Reward Rate:
- On offline merchants abroad using POS and selecting inr / On online merchants that are international based and auto convert to inr ( agoda, klook, getyourguide, viator etc..):
DCC Fee - 1.77%
Reward rate assuming it's not hotel or airline mcc - 4%
Effective reward rate - 2.23%
- on offline/ online merchants with hotel/ airline MCC
DCC fee - 1.77%
Reward rate on hotel/ airline mcc - 10%
Effective reward rate - 8.23%
Note:
1. Higher effective reward rate on accor conversion
2. Always make sure in the message when you swipe or pay online that you are charged in "INR" , if the message has any other currency mentioned you will be charged with the full 3.5% + gst ( 4.13%) , effectively making it negative.
Would love to know your thoughts 👇🏻
It's been half a year since I've been using my axis atlas and I'm not sure why nobody is speaking about this!
Axis atlas has a dynamic currency conversion fee of just 1.5% + GST. Effective rate 1.77%.
This is on par with many high end credit cards that offer a lower forex fee of 3.5% + gst.
Now where is the benefit you may ask?
At the time of making a transaction in a foreign country, Instead of paying in the local currency of the country, select INR ( this would be considered as a DCC transaction instead of a forex one) and this would attract a fee of only 1.77%.
Reward Rate:
- On offline merchants abroad using POS and selecting inr / On online merchants that are international based and auto convert to inr ( agoda, klook, getyourguide, viator etc..):
DCC Fee - 1.77%
Reward rate assuming it's not hotel or airline mcc - 4%
Effective reward rate - 2.23%
- on offline/ online merchants with hotel/ airline MCC
DCC fee - 1.77%
Reward rate on hotel/ airline mcc - 10%
Effective reward rate - 8.23%
Note:
1. Higher effective reward rate on accor conversion
2. Always make sure in the message when you swipe or pay online that you are charged in "INR" , if the message has any other currency mentioned you will be charged with the full 3.5% + gst ( 4.13%) , effectively making it negative.
Would love to know your thoughts 👇🏻
